Empty Homes Loan Scheme

Empty homes loan scheme

Do you own an empty property and has it been empty for more than six months?

Under the council's empty homes loan scheme, owners of suitable empty properties can apply to the council for a loan to repair or convert their property to a standard suitable for providing temporary accommodation for families in housing need.

Your property will be leased through the council's Private Sector Leasing Scheme (PSL) and the council will collect the rent on the property as repayment of the loan until which time it has been paid off. You can then either continue renting your property through the council or have it returned to you.

There are many families in the New Forest in need of a home and bringing an empty property back into use provides a win-win situation for all.

Example of a loan

Property size

Amount loaned

Repaid at PSL rent level

Months needed To repay loan

Minimum lease length required

2 bed

£10,000

£500pcm

20 months

2 years *

2 bed

£20,000

£500pcm

40 months

4 years *

3 bed

£10,000

£580pcm

17 months

2 years *

3 bed

£20,000

£580pcm

34 months

3 years *

*Owner will receive rent after the loan has been repaid. He/she will also be encouraged to renew the PSL Agreement after the initial Agreement has expired.